Greedy Sellers in Negotiation

[acidic.straw]

HI All,
Would like to hear your experience in the Negiotation process when you purchase your potential home stay unit.

have you ever came across a Greedy Seller that asking very high price and will not even budge when u offer a 2% below his asking and literally sit on it and dont even bother to counter offer ? like the chinese saying "hang it up to sell"

"High" is a relative thing..so if you have not met his asking price, I don't think you can call him greedy. After all, he did state clearly how much he is willing to sell and it's no deal if the price is not met...but if you offer him his asking price or even more and he then further increase his price, then yes, he is greedy.

[Geylang OKT]

Honest mistake, let's move on

[Condo Kaiser]

Personally I don't believe there's such a thing as greedy seller, as greed is something which everyone has. There a only 2 type of people, smart and stupid.

All that matter is seller has the property and buyer don't. Just a matter of who is more desperate. Of cos either party can have a lapse in judgement. Buyer may chase the price when he is already in bubble territory, while seller may continue to hike price and drive the buyers away leaving himself with mounting repayment in a declining market.

The most important thing is timing. Point of entry and exit makes a world of difference.

[Komo]

Don't set eye on just one unit. There is no perfect unit. Choose a few units and offer. Let the seller know you are offering and negotiating few units. (even if not). Surely the real seller will bite.

[Geylang OKT]

Seller bite pain pain

[Wild Falcon]

If I think the seller is asking for a reasonable price, I usually just match without negotiating. If a seller is asking for say $1 million and one offers $990k, and the seller says "no", we can't say that the seller is greedy becos his target is not met. Flipping around we can also say the buyer is "cheap skate" because the difference is only $10k (1%). The only type of seller I cannot stand are those with moving targets and move the goal posts all the time. So if they ask for $1 million and I immediately offer them $1 million, they suddenly switch goal post and become $1.2 million. This type of seller are the worst. Usually I just walk away.

[Condo Kaiser]

If I think the seller is asking for a reasonable price, I usually just match without negotiating. If a seller is asking for say $1 million and one offers $990k, and the seller says "no", we can't say that the seller is greedy becos his target is not met. Flipping around we can also say the buyer is "cheap skate" because the difference is only $10k (1%). The only type of seller I cannot stand are those with moving targets and move the goal posts all the time. So if they ask for $1 million and I immediately offer them $1 million, they suddenly switch goal post and become $1.2 million. This type of seller are the worst. Usually I just walk away.

Met a few of those along the way too, but I always have a sneaky feeling that the agent also has a part to play in it. Either he hasnt spoken to the owner in a while which explains the price change or he thinks he can milk a bit more and get a bigger commision.

[ctng78]

The counter offer is so high! Haven't TOP yet. I made an offer based on the recent caveat lodge. Rejected!
I offered an amount higher than what other units are asking already. Rejected total 3 times!
How much more are we supposed to pay for a so-called premium block?

Same thing happened to me. Btw this is my first posting. Now I am still waiting. Maybe next week I will make an offer again at the same price..

[devilplate]

Same thing happened to me. Btw this is my first posting. Now I am still waiting. Maybe next week I will make an offer again at the same price..

look around more....more sellers den buyers now n gd luck....but dun offer low low hor....i detest low ballers....lol

[Condo Kaiser]

I don't know if there are more buyer than sellers but I'm sure there's no harm waiting for a while.

But if you are buying for own stay and sell one unit/roject really got "feel" one then please please buy it as long as can afford.

Otherwise you may spend the next few years feeling quite sad everytime you drive past it.

It has happened to me quite a few times already.

[DC33_2008]

I can see that this is the period of stagnation: Buyer not sure of potential upside while Seller not sure of potential downside.

[blackpepperj]

I don't understand the mentality of some of these potential "buyers". If seller refuse to lower price then FFS, move on.

Don't go around telling others that the seller is greedy, stubborn, hang out to sell etc. Just make you look like a sore loser.

Some of these people even put up unit numbers just to vent their frustration on not getting the unit.